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  • #569,401
  • Dec 2, 2011 11:59am Dec 2, 2011 11:59am
Quoting sidhujag
U never buy under a falling knife, EVER. As a scalper you will get bit too because of fast moving PA.

That's the rule I learned the hard way, so if your analysis lets you be right more than wrong, hats off to u
I know, it's usually how I cover my trades if I'm day trading

Though I'm against going long at this point of time, only looking to sell rallies
  • #569,402
  • Dec 2, 2011 12:00pm Dec 2, 2011 12:00pm
Bias for next week:

Long EU.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #569,403
  • Dec 2, 2011 12:03pm Dec 2, 2011 12:03pm
i draw the horizontal red line as possible resistance sometime yesterday... today i had no time in the office to be close to my chart during the data release but i have seen my longs are doing pretty good.. after half an hour i have seen that i just missed the window to close them

so unfortunate that i had to work..
anyway i trust the channel and will se if we can go for some further gains on the next week

here is the chart
Attached Image (click to enlarge)
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'You must be the change you wish to see in the world' . Gandhi
  • #569,404
  • Dec 2, 2011 12:05pm Dec 2, 2011 12:05pm
Quoting jayjb
I know, it's usually how I cover my trades if I'm day trading

Though I'm against going long at this point of time, only looking to sell rallies

ahh I see, yea sometimes if you get to an indecision point like a support it makes sense to hedge your short incase it holds, and let it go when your back in the "sure" position again.
  • #569,405
  • Dec 2, 2011 12:10pm Dec 2, 2011 12:10pm
Quoting muhdhafiz
Hopefully the +++ is more than ---
yes they are
When life gives you lemons, make lemonade
  • #569,406
  • Dec 2, 2011 12:11pm Dec 2, 2011 12:11pm
Quoting sidhujag
ahh I see, yea sometimes if you get to an indecision point like a support it makes sense to hedge your short incase it holds, and let it go when your back in the "sure" position again.

You know, I am always interested how a fellow trader hedges, what ETF/derivative do you look at for your hedging?
  • #569,407
  • Dec 2, 2011 12:12pm Dec 2, 2011 12:12pm
Quoting cloggie
You know, I am always interested how a fellow trader hedges
  • #569,408
  • Dec 2, 2011 12:13pm Dec 2, 2011 12:13pm
Quoting cloggie
I really do hope y'all followed Micho to a margin call, if you follow a fraud, you fully deserve it.



And on that bombshell, enjoy the weekend.



I was going to save it for incrediblle, but surely Micho wins the award of the week.

http://www.youtube.com/watch?feature...&v=lzMyZVOSq6A
I always follow my own rules.

I'm here for pure entertainment. No one should follow someone elses trades purely. Develop and learn your own trading rules.
  • #569,409
  • Dec 2, 2011 12:13pm Dec 2, 2011 12:13pm
Quoting sidhujag
ahh I see, yea sometimes if you get to an indecision point like a support it makes sense to hedge your short incase it holds, and let it go when your back in the "sure" position again.
I don't hedge, to me it's like revenge trading, I don't add to a losing position neither

Let's say I'm long from 1.3333 and it goes to 1.3444 and PA starts to behave indecisively and ADX tells me trend is not holding anymore, I exit
  • #569,410
  • Dec 2, 2011 12:17pm Dec 2, 2011 12:17pm
Quoting cloggie
You know, I am always interested how a fellow trader hedges, what ETF/derivative do you look at for your hedging?
Hey clog, cmon I know I read that thread about hedging not being any better than switching positions.

But sometimes it has a psychological advantage of being more confident in some positions than others.

Have a look at the UCAD thread and VennD's posts, shows it pretty clearly. He's got it down.
  • #569,411
  • Dec 2, 2011 12:22pm Dec 2, 2011 12:22pm
Quoting sidhujag
Hey clog, cmon I know I read that thread about hedging not being any better than switching positions.

But sometimes it has a psychological advantage of being more confident in some positions than others.

Have a look at the UCAD thread and VennD's posts, shows it pretty clearly. He's got it down.

Must be another retail thing I guess, I have spend 20 years in the business, worked on dozens of floors/desks and I have never heard any of the proper traders ever talk about it.


Interesting idea though, not sure I like my broker enough to just donate some extra spread and commission to him, I'd rather keep that in my account.

But you know it is very valiant what you are doing, we need these brokers to stay in business and you are doing your part, good on you. The better capitalised they are, the more they can spend on PR and advertising and the more noobies get attracted to this business, the more liquidity is provided.

I applaud you for your part, well done.
  • #569,412
  • Dec 2, 2011 12:24pm Dec 2, 2011 12:24pm
Lu lanci lu mati
RM
  • #569,413
  • Dec 2, 2011 12:26pm Dec 2, 2011 12:26pm
Quoting cloggie
Must be another retail thing I guess, I have spend 20 years in the business, worked on dozens of floors/desks and I have never heard any of the proper traders ever talk about it.


Interesting idea though, not sure I like my broker enough to just donate some extra spread and commission to him, I'd rather keep that in my account.

But you know it is very valiant what you are doing, we need these brokers to stay in business and you are doing your part, good on you.
You worked 20 years in the business ok, so do you think the strategies 20 years ago still work as good/bad as today? Think a little bit.

Pro: You're not sure if support or resistance will break so you hedge, you get it right and your wallet thanks you. If you get it wrong, your next signal you can take it and not only avenge the commission and spread of the hedge but have a chance at getting your signal right.

Con: Commission/spread like you said helps the broker. If you get it wrong your potential winnings are reduced.

Do the pro's outweigh the cons? From a mathematical point of view NO, but my dads a math major doesn't make him perfect in every decision. There's other angles to look at in order to get it right in a market as dynamic as this one.
  • #569,414
  • Dec 2, 2011 12:27pm Dec 2, 2011 12:27pm
I wish FF have Like button
RM
  • #569,415
  • Dec 2, 2011 12:28pm Dec 2, 2011 12:28pm
Quoting sidhujag
You worked 20 years in the business ok, so do you think the strategies 20 years ago still work as good/bad as today? Think a little bit.

Pro: You're not sure if support or resistance will break so you hedge, you get it right and your wallet thanks you. If you get it wrong, your next signal you can take it and not only avenge the commission and spread of the hedge but have a chance at getting your signal right.

Con: Commission/spread like you said helps the broker. If you get it wrong your potential winnings are reduced.

Do the pro's outweigh...

Hedging hides your inabilities, you are lying to yourself by doing it. Learn to trade instead, simples.

Be honest with yourself. Never put yourself in the predicament that you feel the need to "hedge" to cancel out your own fuck up, just close the d@mn trade and think to yourself how you can avoid even taking that trade in the future.
  • #569,416
  • Dec 2, 2011 12:28pm Dec 2, 2011 12:28pm
http://smileys.smileycentral.com/cat/1041.gif
Do your time and enjoy the ride...
  • #569,417
  • Dec 2, 2011 12:29pm Dec 2, 2011 12:29pm
Quoting sidhujag
You worked 20 years in the business ok, so do you think the strategies 20 years ago still work as good/bad as today? Think a little bit.

Pro: You're not sure if support or resistance will break so you hedge, you get it right and your wallet thanks you. If you get it wrong, your next signal you can take it and not only avenge the commission and spread of the hedge but have a chance at getting your signal right.

Con: Commission/spread like you said helps the broker. If you get it wrong your potential winnings are reduced.

Do the pro's outweigh...
Also your profitable position which gets hedged, when un-hedged will have a higher chance of surviving once the trend is intact.

It's all about what makes you comfortable. If you can foresee the trend before it happens great, do what works for you

Also I didn't say I am using it, I usually switch positions on my signals, but I'm saying it has some merit, don't discount something if you don't know about it. You didn't even think twice, you heard the term hedge and said meh, well that's what makes people lose their edge over time as new minds come and overthrow the worthless ones unaccepting of knowledge and ideas
  • #569,418
  • Dec 2, 2011 12:31pm Dec 2, 2011 12:31pm
Quoting sidhujag
I don't know how you can be successful with that attitude man. That's just not a winners attitude! Didn't you learn anything from kindergarten?
would you be nice to bunch of frauds and scammers?
  • #569,419
  • Dec 2, 2011 12:32pm Dec 2, 2011 12:32pm
I have never known a retailer hedger to be profitable, does this really work for you, the big question is if one were good enough to see the trend then why not just follow the trend?

Quoting sidhujag
Also your profitable position which gets hedged, when un-hedged will have a higher chance of surviving once the trend is intact.

It's all about what makes you comfortable. If you can foresee the trend before it happens great, do what works for you
It's easy to be humbled but hard to be humble.
  • #569,420
  • Dec 2, 2011 12:32pm Dec 2, 2011 12:32pm
Quoting sidhujag
Also your profitable position which gets hedged, when un-hedged will have a higher chance of surviving once the trend is intact.

It's all about what makes you comfortable. If you can foresee the trend before it happens great, do what works for you

You can justify what you like here, stop justifying it to yourself, stop lying to yourself and making up for your inability to trade by some silly retail solution.

Be a man, be honest and address your shortcomings.

No need to hone up here, I could not care less, at least hone up to yourself.


No need to comment further on the subject here publicly, just think seriously about what you are doing over the weekend.


Don't lie, especially to yourself.
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